Petronet LNG's profits drop 21.8% this quarter: Key details
Petronet LNG, India's biggest LNG importer, saw its profits drop 21.8% this quarter—down to ₹834 crore from ₹1,067 crore last time.
The main reason? Less power demand because of early rains, which meant fewer LNG imports.
Revenue and core earnings also took a hit
It wasn't just profits—revenue dipped by 3.5% to ₹11,880 crore, and core earnings (EBITDA) fell 23.2%.
Their profit margin shrank too, showing the company felt the pinch across the board.
Petronet has big plans for the future
Even with these setbacks, Petronet isn't slowing down.
They've greenlit over ₹6,300 crore for a new LNG terminal in Gopalpur that should be ready in three years—aiming to help meet India's growing need for cleaner energy.
Deal worth ₹1,200 crore signed to ensure stable operations
To keep things running smoothly at their Dahej terminal (a major hub), Petronet signed a five-and-a-half-year regasification deal worth ₹1,200 crore with Deepak Fertilisers's subsidiary.
It's all about staying stable while planning ahead.